The Balakrishnan Corporation began business on January 1, 2010, to produce and sell a single product. Reported operating income figures under both absorption and variable costing for the first four years of operation are

Year Absorption Costing Variable Costing
2010 $80,000 ...........................$60,000
2011 70,000 ...............................60,000
2012 50,000 ...............................50,000
2013 40,000 ................................70,000

Standard production costs per unit, sales prices, application (absorption) rates, and expected volume levels were the same in each year. There were no manufacturing cost variances, and actual production volumes equalled expected volumes. All nonmanufacturing expenses were fixed, and there were no nonmanufacturing cost variances in any year.

1. In what year(s) did “units produced” equal “units sold”?
2. In what year(s) did “units produced” exceed “units sold”?
3. What is the dollar amount of the December 31, 2013, finished goods inventory? (Give absorption costing value.)
4. What is the difference between “units produced” and “units sold” in 2013, if you know that the absorption costing fixed manufacturing- overhead application rate is $3 per unit? (Give answer in units.)